The Six Degrees Team Shares Our Essential Checklist to Complete Before You Buy a House
1. Establish Your Budget
2. Check Your Credit Score
A strong credit score is crucial for securing a favorable mortgage rate. Check your credit report for any errors and work on improving your credit score if necessary.
If your score is 620 or above, you should qualify for most loans. If you’re above 720 (pat yourself on the back) you may qualify for a lower interest rate. If you’re below 620, look into how you can increase your score. Credit score is based on the following information:
Your payment history The amount of money you owe The length of your credit history Types of credit you’ve used Your pursuit of new credit
We recommend you pull your credit score from each of three major credit reporting agencies:
Equifax.com Experian.com Transunion.com
3. Save for a Down Payment
4. Get Pre-Approved for a Mortgage
This process typically involves answering some questions about your income, your assets and the home you want to buy, as well as a credit check.
Obtaining pre-approval from a lender will not only give you a clear idea of your budget but also make you a more attractive buyer to sellers. Pre-approval signals that you are a serious and financially qualified buyer, and we always recommend you meet with a lender before starting the process of buying a house.
5. Make a (Reasonable) Home Wishlist
It’s time to rank your must-haves in a home from most important to least important. Here are the top 10 things that our clients prioritize:
Price Square footage Home condition and need for repairs Number of bedrooms Backyard/outdoor space Walkability/access to entertainment Local school district ranking Property value trends Property/real estate taxes Proximity to work/transit
6. Hire a Real Estate Agent
Oh, hi there! You’ve done your homework and now it’s time to look at houses! Here’s just a little of what you can expect from Six Degrees:
We help you narrow down your must-haves. We know the greater Seattle communities...and we’re going to show them to you! We streamline the entire buying process through our online systems. There’s an app for that! (and you’ll love it.) We help you understand price valuations in this market so you can put in a competitive, reasonable offer. We are a full-service – we keep all the balls in the air for you – start to finish. We value honesty and integrity. In. Every. Situation. We stay connected long after you close – fun events, educational offerings...we love community!
In conclusion, whether you’re a first-time homebuyer or a seasoned pro, doing these things before buying a house while make the process so much easier later. Learn more here about how we work with buyers. Happy house hunting!